August 7, 2016 / 12:46 PM / a year ago

Saudi British Bank proposes lower interim dividend

DUBAI, Aug 7 (Reuters) - Saudi British Bank (SABB), the kingdom’s fifth-largest bank by assets, said on Sunday its board had proposed a cash dividend for the first half of 2016 of 0.35 riyals ($0.09) per share.

This is down from the 0.40 riyals per share the bank paid out in the same period of last year.

The bank last month posted a 1.2 percent increase in its second-quarter net profit, in line with analyst forecasts as earnings from special commissions rose. ($1 = 3.7503 riyals) (Reporting By Tom Arnold; Editing by Greg Mahlich)

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